Intrinsic value of Kaman - KAMN

Previous Close

$67.91

  Intrinsic Value

$32.94

stock screener

  Rating & Target

str. sell

-51%

Previous close

$67.91

 
Intrinsic value

$32.94

 
Up/down potential

-51%

 
Rating

str. sell

We calculate the intrinsic value of KAMN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  1,842
  1,884
  1,933
  1,987
  2,048
  2,114
  2,186
  2,264
  2,347
  2,438
  2,534
  2,637
  2,746
  2,863
  2,986
  3,117
  3,256
  3,402
  3,557
  3,720
  3,893
  4,075
  4,266
  4,468
  4,681
  4,905
  5,141
  5,389
  5,650
  5,924
Variable operating expenses, $m
  1,732
  1,771
  1,816
  1,865
  1,920
  1,981
  2,047
  2,118
  2,195
  2,277
  2,319
  2,413
  2,513
  2,619
  2,732
  2,852
  2,979
  3,113
  3,255
  3,404
  3,562
  3,728
  3,904
  4,089
  4,283
  4,488
  4,704
  4,931
  5,170
  5,421
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,732
  1,771
  1,816
  1,865
  1,920
  1,981
  2,047
  2,118
  2,195
  2,277
  2,319
  2,413
  2,513
  2,619
  2,732
  2,852
  2,979
  3,113
  3,255
  3,404
  3,562
  3,728
  3,904
  4,089
  4,283
  4,488
  4,704
  4,931
  5,170
  5,421
Operating income, $m
  110
  113
  117
  122
  127
  133
  139
  145
  153
  160
  215
  224
  233
  243
  254
  265
  277
  289
  302
  316
  331
  346
  362
  380
  398
  417
  437
  458
  480
  503
EBITDA, $m
  223
  228
  234
  240
  247
  255
  264
  274
  284
  295
  306
  319
  332
  346
  361
  377
  393
  411
  430
  450
  471
  492
  516
  540
  566
  593
  621
  651
  683
  716
Interest expense (income), $m
  0
  22
  22
  23
  25
  26
  27
  29
  31
  33
  35
  37
  39
  42
  45
  47
  50
  54
  57
  61
  64
  68
  73
  77
  82
  87
  92
  97
  103
  109
  116
Earnings before tax, $m
  88
  91
  94
  97
  101
  105
  110
  115
  120
  125
  178
  185
  191
  199
  206
  214
  223
  232
  242
  252
  262
  274
  285
  298
  311
  325
  339
  355
  371
  388
Tax expense, $m
  24
  25
  25
  26
  27
  28
  30
  31
  32
  34
  48
  50
  52
  54
  56
  58
  60
  63
  65
  68
  71
  74
  77
  80
  84
  88
  92
  96
  100
  105
Net income, $m
  64
  66
  69
  71
  74
  77
  80
  84
  87
  92
  130
  135
  140
  145
  151
  157
  163
  169
  176
  184
  191
  200
  208
  217
  227
  237
  248
  259
  271
  283

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,484
  1,519
  1,558
  1,601
  1,650
  1,703
  1,761
  1,824
  1,892
  1,964
  2,042
  2,125
  2,213
  2,307
  2,406
  2,512
  2,623
  2,741
  2,866
  2,998
  3,137
  3,283
  3,438
  3,601
  3,772
  3,952
  4,142
  4,342
  4,553
  4,774
Adjusted assets (=assets-cash), $m
  1,484
  1,519
  1,558
  1,601
  1,650
  1,703
  1,761
  1,824
  1,892
  1,964
  2,042
  2,125
  2,213
  2,307
  2,406
  2,512
  2,623
  2,741
  2,866
  2,998
  3,137
  3,283
  3,438
  3,601
  3,772
  3,952
  4,142
  4,342
  4,553
  4,774
Revenue / Adjusted assets
  1.241
  1.240
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.240
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
  1.241
Average production assets, $m
  661
  677
  694
  713
  735
  759
  785
  813
  843
  875
  910
  947
  986
  1,028
  1,072
  1,119
  1,169
  1,221
  1,277
  1,336
  1,397
  1,463
  1,532
  1,604
  1,680
  1,761
  1,845
  1,935
  2,028
  2,127
Working capital, $m
  245
  251
  257
  264
  272
  281
  291
  301
  312
  324
  337
  351
  365
  381
  397
  415
  433
  452
  473
  495
  518
  542
  567
  594
  623
  652
  684
  717
  751
  788
Total debt, $m
  415
  435
  457
  481
  509
  539
  571
  607
  645
  686
  729
  776
  826
  878
  934
  994
  1,057
  1,123
  1,193
  1,267
  1,346
  1,428
  1,515
  1,607
  1,703
  1,805
  1,912
  2,024
  2,143
  2,267
Total liabilities, $m
  836
  855
  877
  902
  929
  959
  992
  1,027
  1,065
  1,106
  1,150
  1,196
  1,246
  1,299
  1,355
  1,414
  1,477
  1,543
  1,614
  1,688
  1,766
  1,848
  1,935
  2,027
  2,124
  2,225
  2,332
  2,445
  2,563
  2,688
Total equity, $m
  649
  664
  681
  700
  721
  744
  770
  797
  827
  858
  892
  929
  967
  1,008
  1,052
  1,098
  1,146
  1,198
  1,252
  1,310
  1,371
  1,435
  1,502
  1,573
  1,648
  1,727
  1,810
  1,898
  1,989
  2,086
Total liabilities and equity, $m
  1,485
  1,519
  1,558
  1,602
  1,650
  1,703
  1,762
  1,824
  1,892
  1,964
  2,042
  2,125
  2,213
  2,307
  2,407
  2,512
  2,623
  2,741
  2,866
  2,998
  3,137
  3,283
  3,437
  3,600
  3,772
  3,952
  4,142
  4,343
  4,552
  4,774
Debt-to-equity ratio
  0.640
  0.650
  0.670
  0.690
  0.710
  0.720
  0.740
  0.760
  0.780
  0.800
  0.820
  0.840
  0.850
  0.870
  0.890
  0.910
  0.920
  0.940
  0.950
  0.970
  0.980
  1.000
  1.010
  1.020
  1.030
  1.040
  1.060
  1.070
  1.080
  1.090
Adjusted equity ratio
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437
  0.437

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  64
  66
  69
  71
  74
  77
  80
  84
  87
  92
  130
  135
  140
  145
  151
  157
  163
  169
  176
  184
  191
  200
  208
  217
  227
  237
  248
  259
  271
  283
Depreciation, amort., depletion, $m
  113
  115
  116
  118
  120
  123
  125
  128
  131
  134
  91
  95
  99
  103
  107
  112
  117
  122
  128
  134
  140
  146
  153
  160
  168
  176
  185
  193
  203
  213
Funds from operations, $m
  177
  181
  185
  189
  194
  200
  205
  212
  219
  226
  221
  229
  238
  248
  258
  268
  280
  292
  304
  317
  331
  346
  361
  378
  395
  413
  432
  452
  473
  496
Change in working capital, $m
  5
  6
  6
  7
  8
  9
  10
  10
  11
  12
  13
  14
  15
  15
  16
  17
  18
  19
  21
  22
  23
  24
  25
  27
  28
  30
  31
  33
  35
  37
Cash from operations, $m
  173
  175
  178
  182
  186
  191
  196
  201
  207
  214
  208
  216
  224
  232
  241
  251
  261
  272
  283
  296
  308
  322
  336
  351
  367
  383
  401
  419
  439
  459
Maintenance CAPEX, $m
  -65
  -66
  -68
  -69
  -71
  -74
  -76
  -78
  -81
  -84
  -88
  -91
  -95
  -99
  -103
  -107
  -112
  -117
  -122
  -128
  -134
  -140
  -146
  -153
  -160
  -168
  -176
  -185
  -193
  -203
New CAPEX, $m
  -14
  -15
  -17
  -20
  -22
  -24
  -26
  -28
  -30
  -32
  -35
  -37
  -39
  -42
  -44
  -47
  -50
  -53
  -56
  -59
  -62
  -65
  -69
  -73
  -76
  -80
  -85
  -89
  -94
  -99
Cash from investing activities, $m
  -79
  -81
  -85
  -89
  -93
  -98
  -102
  -106
  -111
  -116
  -123
  -128
  -134
  -141
  -147
  -154
  -162
  -170
  -178
  -187
  -196
  -205
  -215
  -226
  -236
  -248
  -261
  -274
  -287
  -302
Free cash flow, $m
  94
  94
  93
  93
  93
  94
  94
  95
  96
  97
  86
  88
  90
  92
  94
  97
  100
  103
  106
  109
  113
  117
  121
  125
  130
  135
  140
  146
  152
  158
Issuance/(repayment) of debt, $m
  16
  19
  22
  25
  27
  30
  33
  35
  38
  41
  44
  47
  50
  53
  56
  59
  63
  66
  70
  74
  78
  83
  87
  92
  97
  102
  107
  113
  118
  125
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  16
  19
  22
  25
  27
  30
  33
  35
  38
  41
  44
  47
  50
  53
  56
  59
  63
  66
  70
  74
  78
  83
  87
  92
  97
  102
  107
  113
  118
  125
Total cash flow (excl. dividends), $m
  110
  113
  115
  118
  121
  124
  127
  130
  134
  138
  130
  135
  139
  145
  150
  156
  162
  169
  176
  183
  191
  199
  208
  217
  226
  237
  247
  258
  270
  282
Retained Cash Flow (-), $m
  -13
  -15
  -17
  -19
  -21
  -23
  -25
  -27
  -30
  -32
  -34
  -36
  -39
  -41
  -43
  -46
  -49
  -52
  -55
  -58
  -61
  -64
  -68
  -71
  -75
  -79
  -83
  -87
  -92
  -97
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  5
  6
  6
  6
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
  15
  16
  17
Cash available for distribution, $m
  98
  98
  98
  99
  99
  100
  101
  103
  105
  107
  96
  98
  101
  104
  107
  110
  114
  117
  121
  126
  130
  135
  140
  146
  152
  158
  164
  171
  178
  186
Discount rate, %
  5.70
  5.99
  6.28
  6.60
  6.93
  7.27
  7.64
  8.02
  8.42
  8.84
  9.28
  9.75
  10.24
  10.75
  11.29
  11.85
  12.44
  13.06
  13.72
  14.40
  15.12
  15.88
  16.67
  17.51
  18.38
  19.30
  20.27
  21.28
  22.34
  23.46
PV of cash for distribution, $m
  92
  87
  82
  76
  71
  66
  61
  56
  51
  46
  36
  32
  28
  25
  21
  18
  15
  13
  11
  9
  7
  5
  4
  3
  2
  2
  1
  1
  1
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Kaman Corporation conducts business in the aerospace and distribution markets. The Company operates through two segments: Distribution and Aerospace. The Company's brands include KAflex, KAron and K-MAX. Distribution segment is a power transmission, motion control, and fluid power industrial distributor with operations throughout the United States. Distribution segment conducts business in the mechanical power transmission and bearings, electrical, automation and control, and fluid power product platforms and provides total solutions from system design and integration to machine parts and services to the national manufacturing industry. Aerospace segment produces and markets aircraft bearings and components; super precision, miniature ball bearings; metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft, and safe and arming solutions for missile and bomb systems for the United States and allied militaries.

FINANCIAL RATIOS  of  Kaman (KAMN)

Valuation Ratios
P/E Ratio 31.2
Price to Sales 1
Price to Book 3.2
Price to Tangible Book
Price to Cash Flow 17
Price to Free Cash Flow 23.6
Growth Rates
Sales Growth Rate 1.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -6.1%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 52.1%
Total Debt to Equity 73.2%
Interest Coverage 0
Management Effectiveness
Return On Assets 4.1%
Ret/ On Assets - 3 Yr. Avg. 4.5%
Return On Total Capital 6%
Ret/ On T. Cap. - 3 Yr. Avg. 6.7%
Return On Equity 10.6%
Return On Equity - 3 Yr. Avg. 11.1%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 30.4%
Gross Margin - 3 Yr. Avg. 29.3%
EBITDA Margin 7.5%
EBITDA Margin - 3 Yr. Avg. 7.3%
Operating Margin 5.9%
Oper. Margin - 3 Yr. Avg. 6%
Pre-Tax Margin 5%
Pre-Tax Margin - 3 Yr. Avg. 5.1%
Net Profit Margin 3.3%
Net Profit Margin - 3 Yr. Avg. 3.3%
Effective Tax Rate 34.4%
Eff/ Tax Rate - 3 Yr. Avg. 32.7%
Payout Ratio 33.9%

KAMN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KAMN stock intrinsic value calculation we used $1806 million for the last fiscal year's total revenue generated by Kaman. The default revenue input number comes from 2017 income statement of Kaman. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our KAMN stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.7%, whose default value for KAMN is calculated based on our internal credit rating of Kaman, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Kaman.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of KAMN stock the variable cost ratio is equal to 94.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for KAMN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Kaman.

Corporate tax rate of 27% is the nominal tax rate for Kaman. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the KAMN stock is equal to 0.3%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for KAMN are equal to 35.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Kaman operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for KAMN is equal to 13.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $636 million for Kaman - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 28 million for Kaman is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Kaman at the current share price and the inputted number of shares is $1.9 billion.

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COMPANY NEWS

▶ Kaman Composites Wichita Announces New Work with Bell   [Jul-12-18 08:46AM  Business Wire]
▶ Gabelli & Companys Aerospace & Defense Conference   [Jun-28-18 07:30AM  Business Wire]
▶ A Look At The Fair Value Of Kaman Corporation (NYSE:KAMN)   [Jun-21-18 12:20PM  Simply Wall St.]
▶ Kaman Board of Directors Declares Dividend   [04:15PM  Business Wire]
▶ Orlando firm Kaman grabs $69.3M bomb fuze contract, creates more jobs   [Jun-04-18 02:25PM  American City Business Journals]
▶ Kaman: 1Q Earnings Snapshot   [May-07-18 05:45PM  Associated Press]
▶ Kaman Reports 2018 First Quarter Results   [04:15PM  Business Wire]
▶ Kaman posts 4Q profit   [Feb-27-18 07:33PM  Associated Press]
▶ Kaman K-MAX® Commences Operations in China   [12:00PM  Business Wire]
▶ Kaman Board of Directors Declares Dividend   [Feb-20-18 04:15PM  Business Wire]
▶ Kaman Announces $324 Million Joint Programmable Fuze Order   [Jan-31-18 07:00AM  Business Wire]
▶ Kaman Announces $17 Million Joint Programmable Fuze Order   [Jan-16-18 09:15AM  Business Wire]
▶ A Look At The Intrinsic Value Of Kaman Corporation (NYSE:KAMN)   [Dec-14-17 06:15AM  Simply Wall St.]
▶ New Strong Sell Stocks for November 21st   [Nov-21-17 09:31AM  Zacks]
▶ Kaman Board of Directors Declares Dividend   [Nov-14-17 04:15PM  Business Wire]
▶ ETFs with exposure to Kaman Corp. : November 1, 2017   [Nov-01-17 12:18PM  Capital Cube]
▶ Kaman Corporation Class A to Host Earnings Call   [Oct-27-17 06:40AM  ACCESSWIRE]
▶ Kaman posts 3Q profit   [Oct-26-17 06:47PM  Associated Press]
▶ Kaman Reports 2017 Third Quarter Results   [04:15PM  Business Wire]
▶ How KAMNs Dividend Yield Looks   [Oct-24-17 09:06AM  Market Realist]
▶ Kaman Announces Restructuring Plan   [Sep-07-17 04:15PM  Business Wire]
▶ Gabelli & Companys Aerospace & Defense Conference   [Sep-05-17 09:11AM  Business Wire]
▶ Gabelli & Companys Aerospace & Defense Conference   [Aug-24-17 07:00AM  Business Wire]
▶ Gabelli & Companys Aerospace & Defense Conference   [Aug-16-17 09:08AM  Business Wire]
▶ ETFs with exposure to Kaman Corp. : August 15, 2017   [Aug-15-17 04:31PM  Capital Cube]
▶ Kaman Board of Directors Declares Dividend   [Aug-08-17 04:15PM  Business Wire]
▶ Kaman posts 2Q profit   [Jul-31-17 09:28PM  Associated Press]
▶ Kaman Reports 2017 Second Quarter Results   [04:16PM  Business Wire]
▶ Kaman Announces Customer Acceptance of Two K-MAX® Aircraft   [Jul-19-17 04:15PM  Business Wire]
▶ After-hours Buzz: NFLX, SCSS, LMT & more   [Jul-17-17 05:44PM  CNBC]
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